Problem with Asset Accounts

#5 09-01-2003, 02:19 AM

And He could title the account "Unrealized Gain on XYZ" (Whatever the Asset
Was). "Reserve" is a word that has specific connotations to accountants,
and this is not the place for them.

--
73 es cul

wb3fup
a Salty Bear

"AJM" <sendnospam[at]btinternet.com> wrote in message
news:bittr1$rct$1[at]hercules.btinternet.com...
- quote -

> Hi Dale,
> It seems to me that you are going about this in the wrong way. The only
> figure that is certain is the purchase price of a property (or more
> specifically the total acquisition cost) and that is the balance you will
> have entered in the relevant Asset Account. Thereafter there can be no
> Income/Expenditure in the form of a capital gain or a capital loss till
you
> have disposed of the asset. It is only at that point that its real value
is
> crystallised. What you are seeking to do is to reflect a changing value
> estimated by yourself or someone else, which can at best be an educated
> guess but which cannot be considered as enhancing your Net Worth.
> If however, you wish to enhance the value of the asset in your books I
would
> suggest you open a Liability Account called (say) Property Reserve. Then
> post an entry to the Asset Account leaving the Payee section blank.
Enter
> the amount by which you consider the value of the asset to have been
> enhanced in the column headed "Increase". The Category will be "Transfer"
> and the contra will be "Property Reserve Account". The Memo can be
something
> like "Estimated increase in value" Press Enter and hey presto the job is
> done.
> Thereafter your Net Worth statement will show the property asset at its
> estimated value while the existence of the Property Reserve as a contra
will
> lead to your Actual Net worth being shown as precisely that!
> As time goes by you may wish to repeat this procedure from time to time
if
> the estimated value of the property increases. Then, when you dispose of
the
> asset I suggest you reverse these entries and thereby bring the balance
of
> the asset account back to the acquisition cost.
> Then when you receive a cheque for the net proceeds (i.e after repayment
of
> your outstanding mortgage if any), you credit it to your bank account and
> use a Split Entry. Make a Transfer to the Asset Account for an amount
> equivalent to the balance thereon. The residual amount should be
categorised
> under Investment Income : Capital Gain. Then and only then will your
actual
> Net Worth be enhanced by the amount of your realised profit.
> I hope this may prove to be of some help to you.
> Regards,
> AJM
> "Dale Holden" <daleholden[at]blueyonder.co.uk> wrote in message
> news:O8kBuD6bDHA.1272[at]TK2MSFTNGP12.phx.gbl...
> > Hi
> > > I have created several asset accounts for different properties I own.I
> have
> > also assigned which ever mortgage applies to each one. My question is
when
> > you go into each asset and update the price of the house it throws up a
> few
> > problems.
> > > What categories do you assign to it? Is it an income? or is it special?
> just
> > what is it I see no default categories. I have entered it as an account
> > adjustment!
> > > But then I find the second problem whatever you list it a sit shows up
in
> > that months income which throws your graphs and reports completely out.
> > > Please can anybody tell me the correct way to show this the correct
way.
> > > --
> > Cheers Dale Holden
>

#4 08-31-2003, 05:50 PM

What's wrong about them? Your assets are worth more. This was noted in the
books this month. If you want to leave it unassigned, turn off
Tool|Options|Categories|Require a category... or just refuse to enter one
when it whines that you haven't.

"Dale Holden" <daleholden[at]blueyonder.co.uk> wrote in message
news:upemBJ9bDHA.1128[at]tk2msftngp13.phx.gbl...
- quote -

> Thanks for that but how do i stop my monthly finances looking wrong

#3 08-31-2003, 04:12 PM

Thanks for that but how do i stop my monthly finances looking wrong

--
Cheers Dale Holden

"Chris Cowles" <NoSpam[at]For.me> wrote in message
news:eSkdRu8bDHA.2392[at]TK2MSFTNGP10.phx.gbl...
- quote -

> You have an option set to require categories.
> "Dale Holden" <daleholden[at]blueyonder.co.uk> wrote in message
> news:%23La38b8bDHA.384[at]TK2MSFTNGP12.phx.gbl...
> > I have tried entering it without entering a categories it will not
accept
> > it.

#2 08-31-2003, 03:24 PM

You have an option set to require categories.

"Dale Holden" <daleholden[at]blueyonder.co.uk> wrote in message
news:%23La38b8bDHA.384[at]TK2MSFTNGP12.phx.gbl...
- quote -

> I have tried entering it without entering a categories it will not accept
> it.

#1 08-31-2003, 02:51 PM

I have tried entering it without entering a categories it will not accept
it.

--
Cheers Dale Holden

"Dick Watson" <littlegreengecko[at]mindspring.com> wrote in message
news:uXrLEE8bDHA.1492[at]TK2MSFTNGP12.phx.gbl...
- quote -

> It's certainly not special. It's probably some type of deferred or untaxed
> income. An account adjustment isn't a category. The last time I entered
one,
> I left it unassigned.
> "Dale Holden" <daleholden[at]blueyonder.co.uk> wrote in message
> news:O8kBuD6bDHA.1272[at]TK2MSFTNGP12.phx.gbl...
> > Hi
> > > I have created several asset accounts for different properties I own.I
> have
> > also assigned which ever mortgage applies to each one. My question is
when
> > you go into each asset and update the price of the house it throws up a
> few
> > problems.
> > > What categories do you assign to it? Is it an income? or is it special?
> just
> > what is it I see no default categories. I have entered it as an account
> > adjustment!
> > > But then I find the second problem whatever you list it a sit shows up
in
> > that months income which throws your graphs and reports completely out.
> > > Please can anybody tell me the correct way to show this the correct way.
> > > --
> > Cheers Dale Holden
>

08-31-2003, 02:08 PM

It's certainly not special. It's probably some type of deferred or untaxed
income. An account adjustment isn't a category. The last time I entered one,
I left it unassigned.

"Dale Holden" <daleholden[at]blueyonder.co.uk> wrote in message
news:O8kBuD6bDHA.1272[at]TK2MSFTNGP12.phx.gbl...
- quote -

> Hi
> I have created several asset accounts for different properties I own.I
have
> also assigned which ever mortgage applies to each one. My question is when
> you go into each asset and update the price of the house it throws up a
few
> problems.
> What categories do you assign to it? Is it an income? or is it special?
just
> what is it I see no default categories. I have entered it as an account
> adjustment!
> But then I find the second problem whatever you list it a sit shows up in
> that months income which throws your graphs and reports completely out.
> Please can anybody tell me the correct way to show this the correct way.
> --
> Cheers Dale Holden

#-1 08-31-2003, 10:19 AM

Hi

I have created several asset accounts for different properties I own.I have
also assigned which ever mortgage applies to each one. My question is when
you go into each asset and update the price of the house it throws up a few
problems.

What categories do you assign to it? Is it an income? or is it special? just
what is it I see no default categories. I have entered it as an account
adjustment!

But then I find the second problem whatever you list it a sit shows up in
that months income which throws your graphs and reports completely out.

Please can anybody tell me the correct way to show this the correct way.

--
Cheers Dale Holden

Similar Threads
Thread	Forum	Replies	Last Post
Problem with Online Services - Citigroup Accounts Only - Anybody else? Mike P.: My Online Services for Transaction Data Download were working properly for approximately 1 yr. July 15th was my last successful connection and...	Microsoft Money	6	10-28-2003 12:58 AM
Asset Allocation Downloads in 2004 Deluxe Only Partially Working Ray: When mutual fund prices are downloaded in Microsoft Money 2004 Deluxe, the funds asset allocation percentages for bonds, cash and other are also...	Microsoft Money	1	08-17-2003 08:01 AM
Asset allocation in MS Money (2004???) turbo_dog: The equity portion (all are mutual funds) of my investment portfolio is as follows (asset class listed in quotes): 1. Vanguard S&P 500 Index Fund...	Microsoft Money	2	07-17-2003 01:41 AM

Thread Tools
Show Printable Version Email this Page
Display Modes
Linear Mode Switch to Hybrid Mode Switch to Threaded Mode